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Governance, Risk Management, and Compliance: It Can't Happen to Us—Avoiding Corporate Disaster While Driving Success by Richard M. Steinberg

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Preface

You're a CEO, senior manager, or board member watching your once-great company brought to its knees. You imagine yourself on the deck of the Titanic, your world coming to an end—your once-confident self embarrassed in front of colleagues, competitors, friends, family, and the larger communities in which you once thrived and were held in such high esteem.

You know the names of the recently failed former icons. Investment banks Bear Stearns and Merrill Lynch were sold at fire sale prices, as were mortgage generators Washington Mutual and Countrywide, and Lehman Brothers no longer exists. AIG is government-owned and selling off assets, while General Motors and Chrysler, having emerged from bankruptcy, continue to work toward regaining their footing. Toyota's reputation for safety and quality has been badly tarnished, and BP has found it necessary to sell major chunks of corporate assets.

While facing different circumstances in different industries, common themes underlie why these and other once-great organizations have seen their fortunes sink, while others withstand economic turbulence and hazards to continue to grow and reap the rewards of success. Yes, successful companies have outstanding leaders, strategies, people, resources, organization, and more. But this book is not about those things, at least not directly. And it's not solely about how to avoid disaster. This book is about ensuring that your company has the right infrastructure to enable the organization's positive ...

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